7
Terminology (testify, testify) is a dominant strategy s strongly dominates s – s is better than s for all other player strategies s weakly dominates s – s is better than s for one other strategy and is at least as good as all the rest

8
Terminology An outcome is Pareto optimal if there is no other outcome that all players would prefer An equilibrium is a strategy profile where no player benefits by switching strategies given that no other player may switch strategies Nash showed that every game has an equilibrium Prisoners Dilemna!

15
Repeated Move Games Partial Information Games – games that occur in a partially observable environment such as blackjack

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17.7 Mechanism Design Given rational agents, what game should we design Tragedy of the Commons

17
Auctions Single Item Bidder i has a utility v i for the item v i is only known to Bidder i English Auction Sealed Bid Auction Sealed Bid Second Price or Vickrey auction (no communication, no knowledge of others)